Skip to content
Search
AI Powered
Human content, AI powered search.
Latest Stories

Scandinavian Tobacco Group acquires Alec Bradley cigar business

Scandinavian Tobacco Group acquires Alec Bradley cigar business
Photo: iStock
Getty Images
Kiran Paul
By Kiran PaulFeb 24, 2023
Kiran Paul
See Full Bio

Scandinavian Tobacco Group (STG) said it has agreed a deal to buy “substantially all assets” of Alec Bradley Cigar Distributors and associated companies for $72.5 million (about £61m) on a debt and cash free basis.

STG said the Alec Bradley brand will be a material addition to the company’s portfolio of premium cigars and bring it one step closer to becoming the undisputed and sustainable global leader of cigars.

“Through this bolt-on acquisition, we will expand our portfolio of highly regarded premium cigars in the US and international markets, delivering material value to our shareholders,” Niels Frederiksen, STG chief executive, commented.

“We will also leverage the Alec Bradley brand portfolio to deliver increased excitement to the handmade cigar category through product innovation and brand activations, benefitting both the cigar enthusiasts and our trade partners”.

Alec Bradley is a family-owned business established in 1996 by entrepreneur Alan Rubin. Based in Fort Lauderdale, Florida, the company reported annual net sales in 2021 of $25 million and an EBITDA margin before special items of 24 per cent. Both net sales and EBITDA margin improved during 2022.

Brands within the Alec Bradley portfolio include among others Prensado, Kintsugi, Alec Bradley Double Broadleaf, Fine and Rare and Black Market.

The acquisition, which is expected to be closed shortly, will be fully financed by cash at hand and debt.

alec bradley cigar distributorsmergers and acquisitionsscandinavian tobacco group

Related News

More for you

A woman enters the Selfridges department store

A woman enters the Selfridges department store on December 13, 2024 in London, England

Photo by Leon Neal/Getty Images

Retail faces mixed fortunes in 2025 amid cost pressures, AI opportunities, and high street revival


The UK retail sector is bracing for a challenging but opportunity-filled 2025, according to Jacqui Baker, head of retail at RSM UK. While the industry grapples with rising costs and heightened crime, advancements in artificial intelligence and a revival of the high street offer potential pathways to growth, she said.

Keep ReadingShow less
unsafe soft drinks seized in Southend

Unsafe soft drinks seized in Southend

Photo: Southend-on-Sea City Council

1,100 unsafe soft drinks seized in Southend safety crackdown

Southend-on-Sea City Council officials have secured food condemnation orders from Chelmsford Magistrates Court, resulting in the seizure and destruction of 1,100 unauthorised soft drinks.

The condemned drinks, including Mountain Dew, 7-UP, Mirinda, and G Fuel energy drinks, were found during routine inspections of food businesses across Southend by the council’s environmental health officers.

Keep ReadingShow less
Charity Super.Mkt at Brent Cross Shopping centre in north London

A customer browses clothes inside Charity Super.Mkt at Brent Cross Shopping centre in north London on, December 17, 2024

Photo by JUSTIN TALLIS/AFP via Getty Images

Brits kindle Christmas spirit with second-hand gifts

Bursting with customers one afternoon the week before Christmas, a second-hand charity shop in London's Marylebone High Street looked even busier than the upscale retailers surrounding it.

One man grabbed two puzzle sets and a giant plush toy as a present for friends, another picked out a notebook for his wife.

Keep ReadingShow less
Nothing is more important than your Mental Elf

Nothing is more important than your Mental Elf

Lancashire Mind’s 11th Mental Elf fun run was its biggest and best yet – a sell-out event with more than 400 people running and walking in aid of the mental charity, plus dozens more volunteering to make the day a huge success.

The winter sun shone on Worden Park in Leyland as families gathered for either a 5K course, a 2K run, or a Challenge Yours’Elf distance which saw many people running 10K with the usual running gear replaced with jazzy elf leggings, tinsel and Christmas hats.

Keep ReadingShow less
A woman walks past a window display promoting an ongoing sale

A woman walks past a window display promoting an ongoing sale, on December 13, 2024 in London, England.

Photo by Leon Neal/Getty Images

Retail sales disappoint before Christmas

UK retail sales rose less than expected in the runup to Christmas, according to official data Friday that deals a fresh blow to government hopes of growing the economy.

Separate figures revealed a temporary reprieve for prime minister Keir Starmer, however, as public borrowing fell sharply in November.

Keep ReadingShow less